Amazon has made a major dip into the grocery world with their latest purchase.
The announcement was made on Friday that Amazon and Whole Foods Market have entered into a definitive merger agreement.
The agreement will see Amazon acquiring Whole Foods Market for $42 per share in an all-cash transaction valued at approximately $13.7 billion.
It’s a major acquisition for one of the world’s biggest companies, but Amazon founder and CEO, Jeff Bezos, wants customers to know that nothing will change.
“Millions of people love Whole Foods Market because they offer the best natural and organic foods, and they make it fun to eat healthy,” said Bezos. “Whole Foods Market has been satisfying, delighting and nourishing customers for nearly four decades – they’re doing an amazing job and we want that to continue.”
Whole Foods will continue to operate stores under their current brand and John Mackey will remain on as CEO.
The company’s headquarters will stay in Austin, Texas as well.
“This partnership presents an opportunity to maximize value for Whole Foods Market’s shareholders, while at the same time extending our mission and bringing the highest quality, experience, convenience and innovation to our customers,” said Mackey.
Mackey founded Whole Foods in Austin back in 1978 as the first national “Certified Organic” grocery.
Uniquely positioned as America’s Healthiest Grocery Store, Whole Foods remains a leader in natural and organic foods.
The company had approximately $16 billion in sales in 2016, with approximately 87,000 employees working in 460 stores across Canada, the U.S. and the U.K.
